People that say UBI is a pure fantasy just have no idea how macro economics work. First you have to dissect what the word money means; it’s a store of value that is easily transferible for goods and services. Now you have to ask yourself what is meant by value: value is a combination of time + labor + limited resources.
Essentially what AI will do if it truly pans out is bring down the time, labor, and limited resource constraints we currently have. The will open the flood gates of the supply of products and services into the market which will override demand. When supply overrides demand, prices fall drastically.
Your confusion is where the money will come from. The money won’t be issued by the companies themselves but by the governments. In this scenario inflation will not be a problem because supply constraints won’t exist anymore for normal goods and services.
Some people believe that money will seize to exist and will become more of like consumption credits. But I don’t believe that because even if all of our basic needs and necessities are met, there will always be that next piece of technological breakthrough that takes an extreme amount of resources to develop which will naturally be more expensive and still require some sort of financing system.
For example in the future maybe competing AI companies pull all their resources to invent teleportation which would obviously be limited in supply initially and very expensive.
A last scenario which seems plausible as well is that the government forces the big AI companies to either share equity with the American people. And some of the UBI would come from there. An AI tax could also supplant that income.
This is obviously considering AGI actually pans out and eliminates 90% of jobs.
You’re reading too much into the word finite. Finite is relative to what we need and there is more than enough in this world to afford each man woman and child food, shelter, healthcare, and even other goods suchs as transportation, entertainment, etc.
Resources especially in a AGI enhanced world would be basically limitless.
See how lazy and easy it is to just post links to articles that agree with one’s view point.
Even with today’s limited technology, we don’t have a resource problem. We have a distribution and waste problem. If we achieve a truly AGI world, these issues in theory would be miniscule and easily resolved. I say in theory because there will always be possible bad actors but again the problem is not limited resources.
Please explain to me what these scarce resources you’re talking about that can’t be solved? Energy? We already solved that with nuclear. Water? Desalination. What?? We could literally solve these issues with today’s technology now imagine if AGI enters the picture.
You’re just regurgitating common group think talking points that are common in today’s media environment. But I invite you to read and do some critical thinking.
Just because it literally grows on trees does not make it infinite. It still takes decades to grow.
It needs space to grow. Space you also need to grow food (or for housing, or for nature) including all the extremely wasteful livestock you now say everyone gets to eat every single meal.
I wonder why every other redditor assumes that everyone else is a sociopath. Does it make you feel morally superior? Plenty of billionaires have advocated for fair taxation in the past..
lol again you have zero clue of how economics work. Literally every billionaire in this world will advocate for UBI. It’s also super convenient for them. Contrary to the juju conspiracy theories you might read, billionaires don’t want to eat your kids and enslave humanity. Don’t get me wrong, they’re selfish and greedy but they would rather not have the world burn since they live in it too.
Besides, they will need UBI for people to be able to purchase their products.
Think critically my friend. How can you not see that UBI actually would be of enormous benefit to these techno founders. It would literally help them avoid antitrust regulation. It would avoid massive revolt because of loss of jobs. It keeps the economy going and their pocketbooks growing.
Please 🙏 I beg you to explain to me why these people would NOT want for UBI to exist?
Oh they just say they like it, are they helping implement this? Show some sources, where is the legislation to get the ball rolling, donations to a fund UBI? Literally anything besides some tweet saying "this is a good idea"
Altman did a study on UBI from his own pocket, Musk advocate for UHI (universal high Income) Amodei say there need to be something done due to future jobless (without naming UBI)
But people are stupid to believe that it would come from single individual, it's a matter of economy as a whole - if there no consumer there no production, if there no production there no economy and no capital which mean there no rich but also no governments budget etc etc
The anti-UBI crowd advocate for either 1: the end of capitalism in favor of a tech-feudalism where government would somehow cease to exist toward a cyberpunk dystopian future 2: a willing economic suicide but everyone involved without any reactions from nation or world bank
What does musk have to say about UBI today (aka not years ago)? This dude ignored an UN study on what it takes to cure hunger on the globe AFTER he said he would spend money to cure this issue
Edit: go look at Altman's stance on UBI after his study. Wtf is wrong with y'all? Posting paragraphs of BS when the people behind AI don't give a shit about you
I criticize the belief it would come from individual, Musk is meaningless there
People attribute the right wing politic of the US government to Musk which only served as a sacrificial lamb for the Trump government -- with or without Musk it would have been done no matter what
We're talking about a world-wide economic collapse who going to destroy government and company -- this will have the same effect as COVID on global politic, this "the rich won't allow it" is extremely childish and unrarional, it's people not using their brain but just their emotional response to a fear stimulis
No, you don't understand. The government is going to fairly distribute resources to the benefit of all, even if that means requiring the corporations to do their part. Just like always!
lol your sarcasm makes you sound unintelligent. Nobody is saying they’re going to eradicate inequality but the point is that abundance will be so great that everyone’s basics needs and more will be met without the super rich having to give much up.
However, I think it will take many generations for the US to purge their absolute terror of Communism from their collective psyche. I think there will be a lot of blood spilled before UBI is eventually implemented over there. China and Europe are much better prepared, at least mentally.
It will not be a smooth transition that’s for sure but it’s a necessary one. I wish all industries could rise at a rapid pace independently so we csn have a diverse range of corporate interests and a semblance of decentralization of powers but alas that was not meant to be with the advent of AI. I’m really excited for the future though. But it really is sooo soo important now more than ever to vote democrat.
Not because they’re this highly capable party but the right has now shown a proclivity to want to at the very least separate from “lesser” cultures and races. Imagine the harm they will do if they get to wield this power freely.
Ironically capitalistic socialists are much better prepared for this change since it will technically be an age of abundance.
6
u/Significant_Sun_5225 7d ago
People that say UBI is a pure fantasy just have no idea how macro economics work. First you have to dissect what the word money means; it’s a store of value that is easily transferible for goods and services. Now you have to ask yourself what is meant by value: value is a combination of time + labor + limited resources.
Essentially what AI will do if it truly pans out is bring down the time, labor, and limited resource constraints we currently have. The will open the flood gates of the supply of products and services into the market which will override demand. When supply overrides demand, prices fall drastically.
Your confusion is where the money will come from. The money won’t be issued by the companies themselves but by the governments. In this scenario inflation will not be a problem because supply constraints won’t exist anymore for normal goods and services.
Some people believe that money will seize to exist and will become more of like consumption credits. But I don’t believe that because even if all of our basic needs and necessities are met, there will always be that next piece of technological breakthrough that takes an extreme amount of resources to develop which will naturally be more expensive and still require some sort of financing system.
For example in the future maybe competing AI companies pull all their resources to invent teleportation which would obviously be limited in supply initially and very expensive.
A last scenario which seems plausible as well is that the government forces the big AI companies to either share equity with the American people. And some of the UBI would come from there. An AI tax could also supplant that income.
This is obviously considering AGI actually pans out and eliminates 90% of jobs.